Over Draft Protection

This is an important notice regarding overdraft coverage.

Please read this notice if you have an active checking account or ATM card tied to your savings account. After you read this notice, you can contact us at 207.772.0808 to choose whether you would like to opt in or opt out of this feature.

What do I need to know about overdrafts and overdraft fees?

An overdraft occurs when you do not have enough money in your account to cover a transaction, but we pay it anyway. We can cover your overdrafts in two different ways:

We have standard overdraft practices that come with your account.

We also offer overdraft protection plans, such as a link to a savings account, which may be less expensive than our standard overdraft practices. To learn more, ask us about these plans.

What are the standard overdraft practices that come with my account?

The standard practices associated with your account are as follows:We may authorize and pay overdrafts for the following types of transactions:

Checks and other transactions made using your checking account number

Automatic bill payments

We do not authorize and pay overdrafts for the following types of transactions unless you ask us to:

ATM transactions

Everyday debit card transactions

We pay overdrafts at our discretion, which means we do not guarantee that we will always authorize and pay any type of transaction. If we do not authorize and pay an overdraft, your transaction will be declined.

What fees will I be charged if TruChoice FCU pays my overdraft?

Under our standard overdraft practices:

We will charge you a fee of up to $30 each time we pay an overdraft

There is no limit on the total fees we can charge you for overdrawing on your account

Still confused? Don’t worry! We’re here to help!

Check out our answers to Frequently Asked Questions OR make it easy on yourself and give us a ring! We’ll help you out over the phone.

Why does it say I’ll get charged $30 when I don’t get charged for overdrafts now?

If you don’t get charged now, you probably have an ER Line of Credit. An ER Line automatically transfers money in $300 increments from your line of credit to cover any overdrafts. This will not change. By opting in, this feature will make sure you are covered if you max out your ER Line.

I only pay a $2 transfer fee when I overdraft. Will that change?

If you currently have money transferred automatically from a savings or money market account to cover any overdrafts in your checking account, this will not change. By choosing to opt in to this feature, it will just make sure you are covered if you don't have enough in your savings and/or money market to cover the overdraft.

Will I have to give permission every time I overdraw on my account?

No. By calling us and opting in now, you are giving us permission to provide overdraft protection until you tell us otherwise.

What will Overdraft do for me?

It is a free feature that will add convenience and limit the stress of banking. It will prevent you from paying returned-check fees from merchants or other financial institutions –which will also save you the embarrassment of those "bounced" checks and declined debit card transactions!

Funds in your accounts at TruChoice are insured to at least $250,000 by the National Credit Union Administration (NCUA) and are backed by the full faith and credit of the United States Government. TruChoice provides additional share insurance covering an additional $250,000. Certain IRAs are insured up to $250,000. Copies of the NCUA brochure "Your Insured Funds" are available at each TruChoice office and are also available by mail upon request.